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About us

History

"Razvitie" corporation is the first attempt since 1989 in Bulgaria to manage freely collected funds from large financial institutions and many small shareholders.

The beginning

To start the creation of the Corporation "Razvitie" KDA be the date 25.03.1993, when it is signed a preliminary agreement for the establishment of an investment fund "Development". Contracting parties are "TYPE-ABC" Ltd., "United Bulgarian Bank" JSC, and „Elpida-3" Ltd. "Option ABC and Co." Ltd., "Chiron-91" Ltd. and "Paradise-Laz" LTD.

On 21.04.1993, the founder has made a petition to raise capital investment fund "Razvitie" KDA. The deadline is 25.05.1993 subsequently extended to 05.06.1993

"Razvitie" corporation was established as an investment fund "Razvitie" on June 5, 1993. On that date was the constituent assembly.

Since 1999 is called the investment fund "Razvitie" KDA.

 

Nature of the company

Legally is the company incorporated as a company limited by shares on the basis of Art. 253 et seq. of the Commercial Code (1993).

Insofar as the then legislation is not a separate term "investment fund", the company is established as such by the adoption of the Charter, Constitution and other documents as are complied with regulations set forth in paragraphs 1, p. 1 of Ordinance № 2 of the BNB (SG. 29 of 1993).

What is a limited joint-stock company with shares?

Broadly speaking in a partnership limited by shares, there are two groups of shareholders. The first groups are the general partners, who are called complementary. The second groups of partners are called general partners or shareholders. The main difference is that the shareholders are responsible for company debts to the extent of their invested capital.

Complementary and general partners (shareholders)

In setting the general partners are "TYPE-ABC" Ltd., "Chiron-91" Ltd. "Option ABC and Associates Ltd" and "TBI" LTD. Subsequently, "TBI" Ltd. waives participation in the fund. Limited partners - Shareholders are 898 individuals and legal entities.

Among the largest are shareholders "United Bulgarian Bank", State Insurance Institute (DZI), "Intransmash engineering" JSC and others.

Issues of shares of "Razvitie" corporation.

"Razvitie" corporation has four share issues. The first two were raised in 1993, and the remaining 2 emissions - respectively in 1994 and 1997.

With the decision of 14.09.2001, the Sofia City Court entered the change in number of shares from 2,199,920 to 219,992 units, incl.: ordinary bearer shares with voting aloud - 1 100 400 pieces of 110 040 number; preference bearer shares without voting aloud, but with a higher dividend - by 1,099,520 the number of 109,952 units.

It enters and change of the nominal value of shares from 0.10 lev (ten stotinkas) to 1 (one) lev each. The initial value of one share is 100 lev (after the denomination is equal to 0.10 lev).

Over the years are paying these dividends:

 

Year

Shares with right to vote

Privileged shares

1995

13,90%

16,26%

1996

20,00%

23,40%

1997

20,87%

24,42%

1998

12,22%

14,30%

1999

24,55%

28,71%

2000

19,357%

22,648%

2001

14,85%

17,37%

2002

19,33%

22,61%

2003

9,26%

10,84%

2004

9,26%

10,84%

2005

7,38%

8,63%

2006

6,94%

8,13%

2007

7,25%

8,48%